In Wave, when you move money from one bank account to another, you need to record a transfer. This makes sure your account balances are correct, and that you won't mistake a simple movement between your accounts as income (or an expense)!

When you make a credit card or loan payment; when you move money from one bank account (e.g. checking) to another bank account (e.g. savings); and when you deposit cash into your bank account, one account "gives" money and the other "receives" money. These two transactions come together to form a transfer.

To create a transfer:

Click on Accounting on the left side of your screen and select Transactions.

Find the two sides of the transaction you want to transfer, and click the boxes to the left of the dates on the transactions.

Click Transfer. These transactions will be linked and the category will change to include "Transfer To" and "Transfer From" to show the payment accounts.

Click on Accounting on the left side of your screen and select Transactions.

Locate one of the transactions associated with this transfer and click on it to open the details on the right-hand side.

Navigate to the Category window and click on the drop-down.

Select Transfer to Bank, Credit Card, or Loan.

Locate the line matching the transaction for the other side of this transfer.

Click Save and you will notice that the transactions will change from Uncategorized to Transfer To/Transfer From.

You're done! Your reports will correctly record this as a transfer of funds, rather than an uncategorized income or expense. A transfer can only be created in Wave when the two transactions have the same amount and currency. The two transactions must also be located in different payment accounts so you can show the flow of money from one account to the another.